CP Daily: Monday December 21, 2015

Published 16:40 on December 21, 2015  /  Last updated at 16:40 on December 21, 2015  /  Newsletter  /  No Comments

A daily summary of our news plus bite-sized updates from around the world.

**CP Daily will not be published between Dec. 24-31. Carbon Pulse will file stories and send out CP Alerts on merit during that period. Regular coverage will resume Jan. 4.**

Presenting CP Daily, Carbon Pulse’s newsletter. It’s a daily summary of our news plus bite-sized updates from around the world. Subscribe here

North American markets set for busy year as regulators eye CPP compliance

Stakeholders in both of North America’s carbon markets should rest up this holiday season, because they have a busy year ahead.

Germany’s energy-related CO2 emissions up 0.9% in 2015 -research group

Energy-related CO2 emissions in Germany, the largest emitter in the EU ETS, rose by 0.9% in 2015 due to increased demand and more burning of lignite and natural gas.

NZ appeal court rules for Mighty River Power in carbon allowance suit

The New Zealand Court of Appeal has upheld a High Court ruling denying a NZ$34.7 million claim by forest-owners New Zealand Carbon Farming against electricity generator Mighty River Power.

Guangdong sells 300,000 CO2 allowances at 15 yuan each

Guangdong on Monday sold all 300,000 carbon allowances on offer at the second auction of the 2015 emissions year at 15 yuan ($2.31) each, the provincial carbon exchange said, slightly below prices in the secondary market.

Swiss man arrested on suspicion of laundering money, evading tax through EU ETS

Austrian police working with German authorities arrested a 55-year old Swiss man at Vienna airport on Dec. 16 who is suspected of money laundering and tax evasion linked to the EU carbon market, the Frankfurt prosecutors offices said in a statement on Monday.

EU Market: EUAs edge higher in quiet trade as fundamentals support

European carbon prices edged higher on Monday amid low volume as coal fell and the euro gained, and as data showed German emissions likely rose this year.

———————————-

Job listings this week:

ICROA Director, IETA – Brussels
EU Policy Officer, Carbon Market Watch – Brussels
Environmental and commodity sales traders, Futura Carbono – Madrid
Programme Assistant, EUROCLIMA, UNEP – Panama

Or click here to see all our job adverts

———————————-

Bite-sized updates from around the world

The Paris Agreement has been hailed as a landmark in the global effort to reduce greenhouse gas emissions, and it could well turn out to be one. But the accord’s lofty goals won’t be achieved without large corporations making big changes. And while many companies have welcomed the deal and voluntarily pledged to cut emissions, the sweeping reforms required to avert a sharp rise in global temperatures will almost certainly require substantial new government regulations. (New York Times)

Korean Carbon Units (KCUs), traded on the KRX on Monday for the first time since June 19, as just over 10,000 offsets changed hands at 12,200 won ($10.36) each, a price rise of 9.9% on the day. That makes the KCUs higher-priced than allowances, which ended the day up 100 won at 11,700, on the exchange for the first time. But traders told Carbon Pulse little should be read into it because of the poor liquidity on the KRX, and that allowance prices around 13,000 won are referred in the OTC market.

Historic Los Angeles methane leak puts natural gas emissions under scrutiny – As SoCalGas works to plug a monster methane leak, warnings abound for the electricity sector. (Utility Dive)

MISO: Clean Power Plan costs largely hinge on natural gas prices – Analysts with the Midcontinent ISO have created a new model estimating Clean Power Plan (CPP) compliance costs, and their data highlight the wide range of possible expenses and just how much they on difficult-to-predict natural gas prices. (Utility Dive)

As expected, President Obama has vetoed a pair of measures by congressional Republicans that would have overturned the CPP. The White House made the announcement early Saturday morning, as Obama was flying to Hawaii for Christmas vacation, that he is formally not taking action on the congressional measures, which counts as a “pocket veto” under the law. (The Hill)

And finally… He declined to drink urine but President Obama did take the opportunity during his televised Alaskan bromance with TV adventurer Bear Grylls to tout his plan to fight climate change. (Guardian)

Got a tip? Email us at news@carbon-pulse.com

Comment